Home Sri Lanka Second-hand vehicle prices soar as pre-orders get cancelled
Sri Lanka

Second-hand vehicle prices soar as pre-orders get cancelled

Share
Share

Used vehicle prices in the country are on the rise again.

This trend has occurred with the significant increase in the prices of imported vehicles after the government introduced new taxes.

As consumers reduced their purchases of used vehicles in the hope that new vehicles would be imported at the same tax rates, there has been a significant decline in sales of second-hand vehicles in the past few days.

However, this situation has occurred with the increase in the prices of imported vehicles after the introduction of the new taxes.

The increase in prices can also be clearly observed on several popular websites that sell vehicles in the country.

Pre-orders cancelled

After the restrictions on vehicle imports were removed, many pre-orders for vehicles are now being canceled.

A major company that imports vehicles into the country had started taking pre-orders a month ago.

It was also reported that they had received more than ten thousand pre-orders.

But as of today, it is reported that a lot of pre-orders are being cancelled.

The reason for this is said to be the further increase in the tax limits on vehicle imports by the new National People’s power government.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Sri Lanka

Leverage ISB debt resettlement to ease U.S. tariffs – Ranil

Former President Ranil Wickremesinghe has called on the government to use Sri...

Sri Lanka

19 ministers, deputy ministers still receive two fuel allowances

Nineteen ministers and deputy ministers are reportedly receiving two fuel allowances still...

Sri Lanka

No progress on rail delays under our watch – Transport Minister

Minister of Transport, Highways, Ports and Civil Aviation, Bimal Rathnayake, has acknowledged...

Sri Lanka

Govt has five years to deliver – Deputy Minister

Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, has assured that...